Eastman Chem Co Stock Price, News & Analysis

Eastman Chemical Company (NYSE:EMN) is set to announce its financial results on July 28, 2022, at approximately 4:30 p.m. Eastern Time. The results will be distributed via wire and posted on their official website. A webcast and teleconference for investors is scheduled for July 29, 2022, at 8:00 a.m. Eastern Time. Advance slides will be available on their investors page prior to the call. Replay options will include a downloadable MP3 format and a telephone replay available through August 8, 2022.

The Société de Chimie Industrielle will present the 2022 International Palladium Medal to Mark J. Costa, Chair and CEO of Eastman, on September 12, 2022, at New York Hilton Midtown. This award recognizes his substantial contributions and leadership in the chemical industry, particularly in promoting innovation and sustainability. Under his guidance, Eastman has embarked on a transformation towards specialty materials and launched molecular recycling technologies to address global waste and climate challenges.

Eastman Chemical Company (NYSE:EMN) will be represented by Willie McLain, Senior Vice President and Chief Financial Officer, at the Deutsche Bank Global Materials Conference on June 9, 2022, at 9:00 a.m. ET. The event will provide insights into the company's strategic direction and market positioning. A live webcast of the presentation will be available on the investors.eastman.com. An audio replay will also be accessible following the event.

Eastman Chemical Company (NYSE:EMN) has launched an accelerated share repurchase (ASR) agreement worth $500 million in collaboration with Wells Fargo and Mizuho Markets. This move accelerates the company's goal of repurchasing over $1 billion in shares within 2022, with $750 million already completed in Q2. After the ASR, Eastman will have about $2.12 billion remaining under its share repurchase authorization. The ASR is scheduled to approximate 3.8 million shares to be repurchased by May 9, 2022, bolstering shareholder value.

At the annual meeting of Eastman Chemical Company (NYSE:EMN), shareholders reelected directors, approved executive compensation, and ratified PricewaterhouseCoopers LLP as the independent auditor for 2022. However, a proposal to lower the ownership threshold for calling special meetings from 25% to 10% was rejected. The proxy statement detailing these actions is available for investors. Eastman, founded in 1920, reported approximately $10.5 billion in revenue for 2021 and employs about 14,000 people globally, focusing on innovation and sustainability.

The Board of Directors of Eastman Chemical Company (NYSE:EMN) has declared a quarterly cash dividend of $0.76 per share, payable on July 8, 2022. Shareholders of record as of June 15, 2022 will receive this dividend. Founded in 1920, Eastman operates globally, focusing on innovative products in various sectors such as transportation and construction, with a reported revenue of approximately $10.5 billion in 2021. The company emphasizes sustainability and safety while engaging deeply with customers.

Eastman Chemical Company (NYSE:EMN) reported a strong first-quarter 2022 with a 13% year-over-year revenue increase to $2,714 million, despite challenges from a steam line incident at its Kingsport facility. Notably, the company achieved a 17% rise in selling prices to offset inflationary pressures. Adjusted EPS guidance remains at $9.50-$10.00. The company expects 8-12% adjusted EPS growth for Q2, driven by its specialties. However, cash flow from operations fell significantly to $17 million, down from $216 million in the previous year.

Eastman Chemical Company (NYSE:EMN) will release its financial results on April 28, 2022, at approximately 4:30 p.m. ET. The results will be available through their website and via SEC Form 8-K filing. A webcast and teleconference will follow on April 29, 2022, at 8:00 a.m. ET. Advance slides will be posted on the investor section of their website. A replay of the webcast will also be available post-event. For inquiries, investors can contact Greg Riddle at 212-835-1620.

Eastman Chemical Company (NYSE:EMN) has completed the sale of its adhesives resins business to Synthomer plc for $1 billion in cash. This deal encompasses hydrocarbon resins, pure monomer resins, and oleochemical and fatty-acid based resins previously part of Eastman’s Additives & Functional Products segment. J.P. Morgan Securities acted as financial advisor and Jones Day served as legal advisor for this transaction. Eastman, a global specialty materials company, reported approximately $10.5 billion in revenue for 2021 and employs around 14,000 people worldwide.